Pharoah Me Salon Inc.'s general ledger at April 30, 2024, included the following: Cash $8,400; Supplies $3,900; Equipment $32,880; Accumulated Depreciation-Equipment $5,480 Accounts Payable $4,650; Deferred Revenue (from gift certificates) $2,700; Bank Loan Payable $11,700; Common Shares $8,400; and Retained Earnings $12,250. The following transactions occurred during May: May 1 Paid rent for the month of May, $2,700. 4 7 15 15 17 18 22 24 25 Paid $2,460 of the account payable outstanding at April 30. Issued gift certificates for future services for $3,200 cash. Received $6,250 from customers for services performed to date. Paid $2,900 in salaries to employees. Customers receiving services worth $2,060 used gift certificates in payment. Paid the remaining accounts payable from April 30. Purchased supplies for $2,060 on account. Received a bill for advertising for $3,900. This bill is due on June 22. Received and paid a utilities bill for $1,250.

Pharoah Me Salon Inc's general ledger at April 30,2024, included the following: Cash \$8,400; Supplies \$3,900; Equipment \$32,880; Accumulated Depreciation-Equipment \$5,480 Accounts Payable \$4,650; Deferred Revenue (from gift certificates) \$2,700; Bank Loan Payable $11,700; Common Shares $8,400; and Retained Earnings $12,250. The following transactions occurred during May; May 1 Paid rent for the month of May, $2,700. 4 Paid $2,460 of the account payable outstanding at April 30. 7 issued gift certificates for future services for $3,200 cash. 15. Received \$6,250from customers for services performed to date. 15 Paid $2,900 in salaries to employees. 17 Customers receiving services worth $2.060 used gift certificates in payment. 18 Paid the remaining accounts payable from April 30. 22 Purchased supplies for $2,060 on account. 24 Received a bill for advertising for $3,900. This bill is due on June 22. 25 Received and paid a utilitics bill for $1,250. 7 Issued gift certificates for future services for $3,200 cash. 15 Received $6,250 from customers for services performed to date. 15 Paid $2.900 in salaries to employees. 17 Customers receiving services worth $2,060 used gift certificates in payment. 18 Paid the remaining accounts payable from April 30. 22 Purchased supplies for $2,060 on account. 24 Received a bill for advertising for $3,900. This bill is duc on June 22. 25 Received and paid a utilities bill for $1,250. 28 Received $4,650 from customers for services performed. 29 Customers receiving services worth $1,960 used gift certificates in payment. 30 Interest of $135 was paid on the bank loan. 31 Paid $2,900 in salaries to employees. 31 Paid income tax instalment for the month, $320. ledger and determine the May 31 balances for each account. (Post entries in the order presented in the problem.) Cash Apr. 30 5480 Accounts Payable May 29 May 29 May 22 2060 Mav 24 3900 Apr. 30 4650 Bal. 5960 Deferred Revenue